April, 2023

• 3 April

  US tech stocks’ rally overdone: Strategist

  

  BLOOMBERG Morgan Stanley’s Michael Wilson — among the most prominent bearish voices on US equities — warns the rally in tech stocks that’s exceeded 20% isn’t sustainable and that the sector will return to new lows. The Nasdaq 100 has soared into a bull market as investors fled economically sensitive sectors like banks following the collapse of several US lenders. ...

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• 3 April

  Treasury yields advance as oil jump adds to inflation concerns

  

  BLOOMBERG Treasury yields rose on concern a rally in oil prices will keep inflation elevated and put pressure on the Federal Reserve to go on raising interest rates. The two-year US yield rose as much as 11 basis points to 2.73% as crude prices jumped after Opec+ announced a surprise oil production cut. This reignited concern about inflation and led ...

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• 3 April

  125 million euros investment for new projects in UAE, Mena announced

  

  ABU DHABI / WAM The global investment platform, Investopia, has revealed one of the key outcomes of its annual conference held in Abu Dhabi, which is the launch of ‘Smart Clinics’ in the UAE and the wider Middle East region, a new concept in the healthcare sector that focusses on improving life quality and establishing wellness pathways. Technology and precision ...

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• 3 April

  UAE to cut oil output by 144,000 bpd from May

  

  ABU DHABI / WAM Suhail bin Mohammed Al Mazrouei, Minister of Energy and Infrastructure, announced that the UAE will voluntarily cut its oil output by 144,000 bpd, effective May through the end of 2023, in coordination with some countries that are parties to the Opec+ agreement. “This voluntary initiative is a precautionary measure taken to ensure market balance and comes ...

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• 3 April

  AIM tackles market challenges, funding prospects

  

  ABU DHABI / WAM The 12th Annual Investment Meeting (AIM Global 2023), which is supported by the Ministry of Industry and Advanced Technology in partnership with the Abu Dhabi Department of Economic Development, will feature a number of local and international events, forums, and conferences from May 8-10 at the Abu Dhabi National Exhibition Centre and discuss the latest investment ...

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• 3 April

  Dewa’s achievements in AI, data management reviewed

  

  DUBAI / WAM HH Sheikh Ahmed bin Saeed Al Maktoum, Chairman of the Dubai Supreme Council of Energy (DSCE), chaired the 75th meeting of the council, which was held virtually in the presence of Saeed Mohammed Al Tayer, Vice Chairman of the DSCE. The meeting was also attended by Ahmed Buti Al Muhairbi, Secretary-General of the Dubai Supreme Council of ...

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• 3 April

  In line with directives of the UAE President, nation’s second aid ship arrives at Latakia Port

  

  LATAKIA / WAM In line with the directives of President His Highness Sheikh Mohamed bin Zayed Al Nahyan, a second UAE aid ship, carrying over 2,000 tonnes, arrived at the Port of Latakia as part of the UAE’s post-quake recovery plan in Syria under “Operation Gallant Knight / 2”. The Ministry of Defence’s Joint Operations Command announced the largest aid ...

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• 3 April

  Dubai’s RTA opens two major bridges, one tunnel

  

  DUBAI / WAM Dubai’s Roads and Transport Authority (RTA) on Sunday opened two major bridges and a tunnel spanning a total of 2,325 metres, with a capacity of 27,200 vehicles per hour, as part of the Falcon Interchange Improvement Project located between Al Khaleej Street, Khalid Bin Al Waleed Road, and Al Ghubaiba Road. The two bridges are connected by ...

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• 3 April

  Khorfakkan Run Festival attracts over 800 runners

  

  SHARJAH / WAM Major General Dr Muhammad Abdullah Al-Murr, President of the UAE Athletics Federation, has highlighted the touristic potential of Labbaik Khorfakkan Run Festival. In the presence of Sheikh Saeed bin Saqr Al Qasimi, Deputy Chief of Sharjah Ruler’s Office in Khorfakkan, the UAE Athletics Federation organised, the “Labbaik Khorfakkan Run Festival”, in cooperation with the Sharjah Sports Council, ...

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• 3 April

  UAE participates in education technology exhibition in London

  

  DUBAI / WAM The UAE took part in the education technology exhibition and conference — the British Educational Training and Technology Show – (Bett) held in London. The UAE team highlighted the country’s technological programmes and initiatives aimed at boosting the educational system and reviewed the latest cutting-edge educational technology (EdTech) solutions. Dr Ahmad Belhoul Al Falasi, Minister of Education, ...

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